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Millrock Resources Inc. (MRO.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.10000.0000 (0.00%)
At close: 3:38PM EST
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Previous Close0.1000
Open0.1000
Bid0.0950 x 0
Ask0.1000 x 0
Day's Range0.1000 - 0.1050
52 Week Range0.0900 - 0.3200
Volume344,907
Avg. Volume216,131
Market Cap11.511M
Beta (5Y Monthly)0.33
PE Ratio (TTM)N/A
EPS (TTM)-0.0090
Earnings DateNov. 27, 2020 - Dec. 04, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Millrock Reports Update on Drilling, 64North Gold Project, Alaska and Stock Option Grant
    GlobeNewswire

    Millrock Reports Update on Drilling, 64North Gold Project, Alaska and Stock Option Grant

    Figure 1. Aurora, Echo & Reflection Prospects - West Pogo Block, 64North Project Alaska, current drilling focusVANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) updates that drilling continues at the Aurora Target on the West Pogo block of the 64North Gold project. Two holes are being drilled to provide further pierce points on the seven-meter thick quartz vein that was intersected on hole 20AU07, as reported in a September 28, 202 press release. Two holes totaling 1,100 meters are planned for the final phase of drilling in 2020. The first hole, which is being drilled from the same site as hole 20AU07, is nearing the target depth. Drilling operations will cease by mid-December.Figure 1. Aurora, Echo & Reflection Prospects - West Pogo Block, 64North Project Alaska, current drilling focus is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a356370d-606f-46c4-afe4-43a87e01a8ef Exploration at 64North is being done in a collaborative manner between technical teams from Millrock and earn-in funding partner Resolution Minerals Limited (ASX: RML, “Resolution”).Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million and Resolution will vest with a 30% ownership upon expending this amount. Resolution is on track to earn its initial 30% interest. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019. Stock Option Grant The Millrock Board of Directors has approved, in accordance with the Company’s stock option plan, a grant of stock options to employees, officers, directors, and consultants of the company. The company has granted a total of 1,940,000 stock options that may be exercised at $0.105 for five years.Qualified Person The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101. About Millrock Resources Inc. Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada and Sonora State, Mexico and is a significant shareholder of junior explorer ArcWest Exploration Inc. and has a shareholding in Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, and PolarX.ON BEHALF OF THE BOARD “Gregory Beischer” Gregory Beischer, President & CEOFOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations (604) 638-3164 (877) 217-8978 (toll-free)Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to drill two further holes in 2020 at the Aurora Target. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

  • Millrock Reports Update on Drilling, 64North Gold Project, Alaska
    GlobeNewswire

    Millrock Reports Update on Drilling, 64North Gold Project, Alaska

    Figure 1. Aurora, Echo, and Reflection Prospects - West Pogo Block, 64North Project Alaska. These prospects are currently the focus. Figure 2. Hole (20AU07) Quartz vein with fuchsite and sulphides - arsenopyrite, pyrite, pyrrhotite. Figure 3. Hole 7 (20AU07), 485.65m to 489.85m, quartz and sulphide veins cross-cutting the paragneiss host rock. Figure 4. Hole 7 (20AU07), 488.69m to 488.93m, quartz vein with fuchsite, arsenopyrite, pyrite and pyrrhotite.VANCOUVER, British Columbia, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports assay results from drilling from exploration drill holes 20EC05, 20RE06 and 20AU07 that have been recently completed at the Echo, Resolution, and Aurora targets on the West Pogo block of the 64North Gold project. The locations of the holes drilled so far this year on the West Pogo Block are shown in Figure 1, along with the locations of the Echo, Reflection, and Aurora target areas. Also depicted are the locations of the Pogo Mine and the Goodpaster deposit situated on claims owned by Northern Star Resource Ltd (“Northern Star”). Northern Star recently indicated that it intends to perform delineation drilling at Goodpaster with a $21 million budget in the coming year, and work is now underway.Hole 20EC05 was drilled to test a strong, gently northwest dipping CSAMT conductor in a prospect area that is down dip and approximately four kilometers from Northern Star’s Goodpaster deposit. On Millrock’s claims it is referred to as the Echo prospect. Numerous fault zones with some pyrite and strong dolomite-sericite alteration were intersected from 224 meters to 293 meters downhole. No anomalous gold results were returned from these zones.At the Reflection prospect, hole 20RE06 was drilled to test conductive rocks in an area where an intrusive rock body was interpreted from airborne magnetic data, two kilometers due east from Northern Star’s Goodpaster deposit. A fault zone with pyrite and arsenopyrite, locally with quartz breccia clasts, was intersected from 279.4 meters to 289.1 meters. Also, a zone of stockwork quartz mineralization was intersected over 0.6 meters starting at a depth of 324.9 meters. The mineralized zones did not contain any gold anomalies.Drilled directly along strike from the Goodpaster deposit, hole 20AU07 intersected a zone of shallow-dipping quartz veining over a seven-meter interval, starting at 488 meters downhole. The zone of veining is hosted by paragneiss and is within a sericite – chlorite – dolomite altered zone measuring 22 meters thick from 476 meters to 498 meters. The alteration and veining contains pyrite, arsenopyrite, and pyrrhotite. The assay results show weakly anomalous gold values. Oriented drill core measurements indicate the vein dips gently at approximately 25 to 30 degrees to the west.Millrock President & CEO Gregory Beischer commented: “We had high hopes for the seven-meter thick quartz vein interval intersected in hole 20AU07 and these results are disappointing. However, it is not unusual for gold concentration to change dramatically within a few tens of meters in vein-hosted systems such as these. Drilling the intersected vein in nearby locations could result in the gold discovery we seek.”Figure 1. Aurora, Echo, and Reflection Prospects - West Pogo Block, 64North Project Alaska. These prospects are currently the focus. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c05ea55d-49ee-435a-a07b-e5b35797fd85 Exploration at 64North is being done in a collaborative manner with technical teams from Millrock and earn-in funding partner Resolution Minerals Limited (ASX: RML, “Resolution”). Resolution has indicated a desire to drill two further holes from the same pad as hole 20AU07 at different azimuths. Plans are being made to execute this drilling in November, pending contractor availability. The holes will provide additional pierce points on the vein intersection made with hole 20AU07. The photographs in Figures 1, 2, and 3 show the quartz vein intersected with hole 20AU07.Figure 2. Hole (20AU07) Quartz vein with fuchsite and sulphides - arsenopyrite, pyrite, pyrrhotite. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff1c9b5e-e07a-4dd3-a5c3-95359ec054f7 Figure 3. Hole 7 (20AU07), 485.65m to 489.85m, quartz and sulphide veins cross-cutting the paragneiss host rock. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9d610dba-3773-447b-bc12-3e22fc14e750 Figure 4. Hole 7 (20AU07), 488.69m to 488.93m, quartz vein with fuchsite, arsenopyrite, pyrite and pyrrhotite. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9387d8aa-bf3a-44f0-968d-6b392b8c0bd7Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million and Resolution will vest with a 30% ownership upon expending this amount. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019. Quality Control and Quality Assurance Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core was cut on-site at camp located near the drill hole and selective samples of mineralized zones collected. Drill core samples were kept in a secure location at all times. For the results presented here, the representative half-core samples underwent sample preparation at the Bureau Veritas laboratory in Fairbanks, Alaska, (preparation method code PRP70-250) using 70% to <2 mm Crush and Pulverize 85% to <75 um. Appropriate high, medium and low gold and base metal standards were used by Millrock on a 1:20 basis (5%). Blanks were inserted on a 1:50 basis (2%). The Bureau Veritas laboratory introduces QAQC samples and completes duplicate check assays on a routine basis. Following preparation in Fairbanks the samples were subsequently analysed at the Bureau Veritas laboratory in Reno, Nevada.  Gold was analysed by Fire Assay (code FA430/AA) with an AAS finish using a 30-gram nominal sample weight. No multi-element analysis was completed on the samples. Inspection of QAQC information indicates that all sample results are within tolerance.Qualified Person The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.    About Millrock Resources Inc. Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada and Sonora State, Mexico and is a significant shareholder of junior explorer ArcWest Exploration Inc. and has a shareholding in Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius as well as junior explorers Resolution, Riverside, and PolarX.ON BEHALF OF THE BOARD “Gregory Beischer” Gregory Beischer, President & CEOFOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations (604) 638-3164 (877) 217-8978 (toll-free)Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to drill two further holes from the 20AU007 pad, or to conduct drilling operation year round. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

  • Millrock Reports Operations Update, 64North Gold Project, Alaska
    GlobeNewswire

    Millrock Reports Operations Update, 64North Gold Project, Alaska

    Figure 01. Aurora, Echo & Reflection Prospects - West Pogo Block, 64North Project Alaska, current drilling focus. Figure 02. Quartz and sulphide veins at 1,060m Hole ID 20AU04 - typical of this hole.Highlights: * The planned program of 2,300 meters is nearing completion. * Assay results from the first two holes have been received; results indicate anomalous gold and pathfinder values; further drilling is required. * Geophysical surveys and field exploration at the Boundary Prospect, East Pogo Block are in progress and showing interesting targets.VANCOUVER, British Columbia, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on drilling and other exploration at its 64North Gold project. Exploration work is being funded and managed by Resolution Minerals (“Resolution” ASX: RML) in a collaborative arrangement with Millrock as the project operator. The 64North Gold Project is a very large tract of claims in Alaska’s emerging Goodpaster Gold District. Drilling has been ongoing since early June and continues at present.The current drilling program is focused on the Aurora, Echo, and Reflection targets, all of which are adjacent to and generally west of the Pogo Mine property, which is owned and operated by Northern Star Resources Ltd. (“Northern Star”). Northern Star has previously reported a gold resource of 5.95 million ounces of gold in a series of veins grading 9.6 grams per tonne gold (Source: Northern Star website). More than four million ounces of gold has already been mined at Pogo and Northern Star has recently announced a new gold discovery called the Goodpaster deposit a short distance away from the mutual claim boundary. Millrock cautions that mineralization on the nearby Northern Star property is not necessarily indicative of gold mineralization hosted on the Company’s property. Presently, Millrock and Resolution are testing the Aurora Target southwest of the Goodpaster deposit held by Northern Star. Northern Star has recently indicated they will devote $21 million to perform delineation drilling at Goodpaster.Holes 20AU001 and 20AU002 have been previously reported. Holes 20AU003 and 20AU004 are reported in this press release. Holes 20AU005 and 20AU006 have been recently completed and hole 20AU007 is in progress. Hole locations are shown in Figure 1.Photos accompanying this announcement are available at  https://www.globenewswire.com/NewsRoom/AttachmentNg/0db5da0e-b47b-40b3-9d00-b54e241c6565 https://www.globenewswire.com/NewsRoom/AttachmentNg/130a7d66-11fa-48c9-aeb5-a74d4cb5ca14Assay Results Hole ID’s 20AU03 and 20AU04 Assays from Aurora drill holes 20AU003 and holes 20AU004 indicate minor gold mineralization as detailed below. The alteration observed in the drill core matched the CSAMT and ZTEM geophysics anomalies. The Company is encouraged by the strong alteration, presence of gold, para-gneiss host rocks, and presence of sulfides indicating the strong fertility of the system.Intervals Hole 20AU003 * 0.86m @ 0.35 g/t Au from 19m depth * 0.86m @ 0.44 g/t Au from 423m depthIntervals Hole 20AU004 * 0.78m @ 0.41 g/t Au from 522m depth * 1.19m @ 0.76 g/t Au from 762m depthBoundary Prospect A ZTEM / MAG airborne geophysical survey and a ground-based CSAMT survey were recently completed. Conductive zones were identified in areas where geochemical anomalies and gold-anomalous intersections had been identified by prior explorers. A field team of geologists is presently conducting sampling and mapping operations.Earn-In Agreement Terms Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. The partners are developing plans for further drilling and other exploration to be carried out in fall of 2020. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019.Quality Control and Quality Assurance Millrock adheres to stringent Quality Assurance–Quality Control (“QA/QC”) standards. Drill core samples are kept in a secure location at all times. For this program two laboratories were used; some samples were sent to ALS Chemex prep laboratory in Fairbanks, Alaska USA, and others were sent to Bureau Veritas also in Fairbanks, Alaska. Representative half-core samples underwent sample preparation in Fairbanks. Prepared samples sent to ALS Chemex were subsequently analyzed at ALS Chemex laboratories in Whitehorse, Yukon, Canada. Gold was analyzed by Fire Assay (specifically ALS code Au-AA25 – Au) by fire assay and AAS using a gram nominal sample weight). Prepared samples sent to Bureau Veritas were sent to the Bureau Veritas laboratory in Reno, Nevada (BV code FA430/AA). The following QA/QC protocols were been adopted for this program: 1) Duplicates created as coarse crush duplicates on every 50th sample (2% insertion) in the sample preparation process at the laboratory, and 2) Blank material inserted at a rate of 2 blanks per 100 samples (2% insertion) and 3) Standards–Certified Reference Material (CRM’s) every 20th sample (5% insertion) plus additional random insertions at the supervising geologist’s discretion. All results from duplicates, blanks, and standards were reviewed and found to be accurate and within acceptable tolerancesQualified Person The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.About Millrock Resources Inc. Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, and is a significant shareholder of junior explorer ArcWest Exploration Inc. and has a shareholding in Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside and PolarX.ON BEHALF OF THE BOARD “Gregory Beischer”  Gregory Beischer, President & CEOFOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations (604) 638-3164 (877) 217-8978 (toll-free)Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, management’s expectation that the planned drilling program will successfully be carried out. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, Millrock’s ability to mobilize the drill rig and camp and complete the drilling work and other customary risks of the resource industry.